Edwards together with O'Neil each possess previous links with Wolves
Rob Edwards along with Gary O'Neil are two of the initial names in the frame to replace the former manager as manager of Wolverhampton Wanderers.
Pereira was dismissed on Sunday following the squad's ten-game without a victory beginning to the top-flight campaign.
And both candidates - both of who have previous associations to the club - are part of the options to be considered by the club ownership.
Edwards is currently at Middlesbrough, which would create a possible hurdle to his hiring at Wolves' stadium.
However the former Luton manager - who played over a century of games for Wolves during his time as a player - is said to be a strong contender for the position.
The 42-year-old is reportedly enjoys backing from the club board as they start the process of hiring a new head coach.
Gary O'Neil is also emerging as a unexpected contender, even though he would be a shock choice considering he was released by the club in December last year.
The ex- West Ham midfielder is currently unemployed which means the club would not be required to pay any compensation.
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